Tottenham seal £175m Bank of England loan to support during coronavirus

The Spurs stadium has been handed over for use by the NHS during the coronavirus pandemic

Tottenham have secured a £175m loan from the Bank of England to aid them during the coronavirus crisis.

Spurs are set to miss £200m of revenue up to June 2021, with behind closed door matches at their 62,303-capacity stadium and other events cancelled.

They are eligible for a Covid Corporate Financing Facility, repayable with a 0.5% interest rate.

Chairman Daniel Levy said: “We have always run this club on a self-sustaining commercial basis.”

Spurs, who have played in the Champions League for the last four seasons, are currently eighth in the Premier League – seven points behind fourth-placed Chelsea – with nine matches remaining.

Levy, who replaced Sir Alan Sugar as chairman in February 2001, added: “I said as early as 18 March that, in all my 20 years at the club, there have been many hurdles along the way but none of this magnitude – the Covid-19 pandemic has shown itself to be the most serious of them all.

“It is imperative that we now all work together – scientists, technologists, the government and the live events sector – to find a safe way to bring spectators back to sport and entertainment venues.

“Collectively we have the ability to support the development of new technologies to make this possible and to once again experience the passion of fans at live events.”